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Valued Social Butterfly
Posts: 8,793
Registered: ‎08-18-2008

Re: Medicare - Income Related Premiums - Current Law and Proposed Changes

[ Edited ]
Message 1 of 4 (180 Views)

rj72135989 wrote:

In letter to Rep. Hoyer, CBO says that unless Congress acts to lift PAYGO, tax bill would trigger $25b in Medicare cuts. ($136b total cuts for FY '18)


Yep, you are off topic -  You are talking about tax reform -

What this has to do with is the ReAuthorization of the CHIP program - a partial way of paying for the CHIP program would be to raise the IRMMA (Income Related Medicare Monthly Adjustment) on those Medicare beneficiaries pulling in over $ 500,000 a year in income.

 

Do you think that is a good way to partially pay for the Childrens Health Insurance Program???

What will happen if this legislation doesn't get funded by some offset?  Will PAYGO also affect this too?

 

In Rep. Hoyers' own words in that letter:

I wrote the statutory PAYGO law when Democrats were in the Majority because I believe that Congress has a responsibility not to load the next generation with a massive amount of debt.

 

The Democrats seem to be against reauthorizing the CHIP program by raising these IRMMA premium surcharges on those seniors with income over $ 500,000 a year.  This seems to be right up their alley but yet they are against it - WHY?  So what are they gonna do in this case - forgo PayGo and just add it to the debt??

 

Course, the letter you referenced also says:

While it is possible to avoid the PAYGO enforcement cuts triggered by their added deficits, Republicans would need Democratic votes to do it, . . . .

 

Guess that is what both parties will do to reauthorize CHIP.

 

Since you didn't give a link - neither will I.

Valued Social Butterfly
Posts: 985
Registered: ‎01-02-2012

Re: Medicare - Income Related Premiums - Current Law and Proposed Changes

Message 2 of 4 (184 Views)

rj72135989 wrote:

In letter to Rep. Hoyer, CBO says that unless Congress acts to lift PAYGO, tax bill would trigger $25b in Medicare cuts. ($136b total cuts for FY '18)


1. Totally off topic

2. So what? Both the Senate and House versions of tax reform (which are at various steps in the process) already waive Paygo so your scare comment is meaningless

Bronze Conversationalist
Posts: 29
Registered: ‎10-13-2015

Re: Medicare - Income Related Premiums - Current Law and Proposed Changes

Message 3 of 4 (191 Views)

In letter to Rep. Hoyer, CBO says that unless Congress acts to lift PAYGO, tax bill would trigger $25b in Medicare cuts. ($136b total cuts for FY '18)

Valued Social Butterfly
Posts: 8,793
Registered: ‎08-18-2008

Medicare - Income Related Premiums - Current Law and Proposed Changes

[ Edited ]
Message 4 of 4 (249 Views)

Better check your 2016 tax return to see if you might be within this Medicare Income Related Premium surcharge for 2018 and what might be further instore.

 

KFF 0 11/02/2017 - Medicare’s Income-Related Premiums Under Current Law and Proposed Changes

 

 

Now within the New CHIP reautorization proposal, the House wants to partly pay for it by adding this top added category and modifying the 2nd highest one.::  The reauthorization has passed the House and goes to the Senate, however the manner to pay for it was not finalized.  So this may not happen - the CHIP reautorization might just add to our debt - it is now in the undertermined area as to how to pay for it.

 

What you you think of this way?

 

The U.S. House of Representatives is considering legislation (H.R. 3922) to extend funding for the Children’s Health Insurance Program that includes a provision to increase Medicare premiums for some higher-income beneficiaries to help offset the cost of the legislation.